iCharts Discussions

[vinay28]

Today, NS must close above 7550 to give hope to bulls. If it doesn't, At least Monday must close well above 7409.

bappa - thanks for reminding

[vinay28]

likely BD/BO levels.

for the lower TL, I have ignored the freak trade as it didn't happen in NF. So, may be, just may be, low was made yesterday or worst case 7465/40. However, market looking very dicey to me from my sentimental view as given below.

1. 58% (figure heard somewhere) believe that we will see a pre-budget rally. If nifty goes up tmrw (note that 7600-7610 will still not be bullish and would be only if it sustains above 7660), this % will go up. This itself gives me a fear that opposite may happen.

2. Almost all of the balance feel that there would be a post budget rally.

3. A few, however, think that budget would be austere, taking clue from hike in rail fares/tariff and possible delay in hike in LPG and Kerosene. And this is likely as we may even see hike in taxes to control deficits, which is a top priority. Add to that possible monsoon woes and resultant rise in inflation.

since we can't trade comfortably with such wildly opposite possibilities, I feel 7660/7400 should be kept in mind but with at least 15tf and preferably 60tf close and trade accordingly. If 7400 is broken, 7360/7320/7210 are possible. If budget is rank bad, there is a -ww which can give 6630 also.

As a reminder, pl refer to my post-election views posted in end March under "Market Mastermind".

[bappa1971]

[vinay28]

as per 9.30 strategy, buy below 7562NF, target 7606, SL 7532.

If SL is hit, sell above 7539NF, target 7493, SL 7569.

Original trade was short but its SL of 7567NF was already triggered.

vix can trigger SL and then nifty can reverse. so trade carefully.

[vinay28]

assuming constant vix, range for 30 days from today is

7876.1/7110.30NS and 7919.6/7149.6NF.

[riteshucha]

intra.. based on 9.30 am
Buy At 7594.90. Target = 7648.06.
Sell At 7504.70. Target = 7452.17.

intra 9.30 am considering june H/L / july H/L at 9.30
Buy At 7571.83. Target = 7624.83.
Sell At 7527.43. Target = 7474.73.

[riteshucha]

levels for 30th june

Buy At 7572.60. Target = 7625.61. Stoploss = 7512.0192
Sell At 7508.70. Target = 7456.14. Stoploss = 7568.7696

(although SL are given, but i dont use them, i keep sell level as SL incase of Buy and vice versa)

[amitagg]

[vinay28]

Nifty for Monday (30/06/14)

Supports are at about 7482, 7467 and 7404 while resistances are at about 7536, 7561, 7593 and 7600. Previous high/lows to watch are at about 7594 and 7481/7441 resp. Unfilled gaps on higher/lower side are at about 7570/7362. Three +WWs can give about 7549 (once above 7500), 7570 (once above 7514) and 7650 (once above 7478) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7458 and 7326 (once below 7622) (-WWs with much lower targets are not mentioned as of now).

Nifty closed flat above 7500 but also below 20 dma and is still bearish. Daily candle is like a Harami Cross. Weekly candle is a Doji indicating uncertainty. A close below 7481 can be bad but a breach of 7441 will cause more fall. A close above 10/20 dma (about 7542) can give some hope to bulls. Monthly chart is still good unless Monday close below 7409. VIX can play spoil sport, this being a long expiry, particularly with budget due next week. However, liquidity is still abundant and one needs to be careful. It appears that global issues along with rising oil price and US$ will continue to rule the roost.

[rameshraja]

Mr Vinay

Looks like market headed for a serious problem and many stocks are loosing its sheen and loosing momentum.. I think again its going to be Pharma and IT sector will cushion the fall of Nifty..

Revival of Bull action across the board is in the hands of Mr Arun Jaitley..

[vinay28]

[dynamite_munda11]

intraday

sell below 7607 trgts 7596/7578 and more dnside below 7578 nly hving trgts 7560/7553/7542/7538

[riteshucha]

nifty tgt done...

waiting BANK nifty tgt .. 15421

[dynamite_munda11]

[vinay28]

7594NS needs to be taken out.